* C$ at C$0.9920 vs US$, or $1.0081 * Bond prices rebound across curve By Claire Sibonney TORONTO, May 4 (Reuters) - The Canadian dollar eased against the greenback on Friday after a volatile reaction to the latest U.S. jobs data that showed employers cut back on hiring in April and the jobless rate fell as people gave up the hunt for work. The currency hit both a session low and a session high immediately after the report, moving between C$0.9915 to the U.S. dollar to C$0.9862 before heading back into negative territory. Analysts said the report gave mixed messages about the economy's strength ahead of President Barack Obama's November re-election bid. "Disappointing on headline," said Camilla Sutton, chief currency strategist at Scotiabank, referring to the lower-than-expected gain of 115,000 workers. "Maybe some redemption in the net revision up 53K and the unemployment rate fell to 8.1 (percent)." In the jobs report, initial estimates for payroll growth in February and March were revised upward by a combined 53,000. That left the six-month average of job growth at 197,000, nearly exactly where it would have been had April job growth come in as expected at 170,000. "I think it's confusing because there's a complication of how quantitative easing expectations play into it. I would argue a weak employment environment in the U.S. leaves the door open to further QE and is a weight against the U.S. dollar," Sutton said. By 9:16 a.m. (1316 GMT), the currency slipped to new session lows, hitting C$0.9920 versus the U.S. dollar, or $1.0081, off from Thursday's close at C$0.9889 versus the greenback, or $1.0112. Investors also were focused on weekend elections in the euro zone, with evidence of a sharp contraction in the region's dominant services sector suggesting its recession could last longer than feared. Voting in France and Greece is likely to provide a litmus test of popular tolerance for further austerity, a day after the European Central Bank ended near-term hopes of more policy easing to boost the ailing economy. Canadian bond prices rose across the curve, tracking U.S. Treasuries' march into positive territory. Canada's two-year bond was up 4 Canadian cents to yield 1.286 percent, while the benchmark 10-year bond gained 38 Canadian cents to yield 2.050 percent.